Argentina President Javier Millie has distanced himself from the MIM coin after promoting it in a deleted tweet now.
His clarification follows accusations that the project developers drained about $ 107 million, as it appears to be a pump and discharge system.
Mimi Mimi currency of controversy
On February 14, the Milei X Libra account, a Solana -based Mimi, which led to an increase in trading activity. The ceiling of the distinctive symbol market reached $ 4.5 billion for a short period with investors rushing.
The project claimed its goal is to support the Economy of Argentina by financing small companies and local projects. Julian Bey, co -founder of the KIP protocol, confirmed the participation of the platform, saying that her role is to manage money distribution rather than supervising the same symbol.
“Our primary role is to help the fund customization management for Argentine companies, and less on the symbolic side. We are not [Market maker]… we will develop a plan to run the Libertad project according to the original goal. We did not get the help we provided to launch if we were not serious. Any single Seoul will not be used outside the purpose of operating the VIVA LA LIBERTAD project, “PEH He said.
However, doubts have emerged quickly regarding the legitimacy of launch. Crusion analyst Connor Grogan Indicate The portfolio that publishes the scale has received money from the stock exchange that does not require customer verification (KYC).
It was also installed, he treated the case, saying that he initially participated in the project to support a special initiative, which is something he did regularly.
Upon reviewing, he retracted his support and delete the post. After his statement, the price of the scale decreased by about 90 %.
“I was not aware of the details of the project, and after I realized that, I decided not to continue spreading the word (that is why tweeting). The accuracy of the politicians, and they increase our conviction of kicking them in the rear, “Mail He said.
Meanwhile, the Blockchain analysis revealed from Lookonchain that the informed had withdrawn about $ 107 million. Eight portfolios linked to the project transferred $ 57.6 million in USDC and 249,671 Sol, at a value of about $ 50 million. Analysts suggested that these clouds were linked to manipulation of liquidity and accumulated fees.
In addition, EmbercN I mentioned He achieved that the insiders are at least $ 20.18 million by promotional tweet, buying seconds after publishing it, and selling it after the price increased.
Mimi political currencies and industry reactions
Farra Fallout highlights concerns that surround the political currencies regularly regularly. Similar speculation surrounds the launch of the Trump code in January and the Mimi currency in the Republic of Africa in Central Africa.
Either way, traders rushed to buy before questioning their legitimacy. Although these symbols turned out to be authentic, the rapid collapse of Libra has sparked warnings within the encryption community.
Industry numbers have condemned the situation. André Kronji, co -founder of Sonic Labs, criticized this trend, indicating that Meme traders do not participate in decentralized financing or Blockchain technology.
“[Meme coin traders are] Demographic that is not concerned with decentralized financing or even Blockchains. Even themes do not steal any attention, because the participants were sharing us in the first place, “Kronji I mentioned.
On the other hand, the founder of the SlowMist Yu Xian called for accountability, saying that officials should face legal consequences.
“Supporting everyone in defending your rights; the instigator must be punished under the law, and we hope that they will face the anger of the president,” Xian Add.
The scale controversy reflects the risks of the Merme currency, especially when it is linked to political numbers. The accident raised more discussions on organizational oversight and the protection of investors in the encryption space.
Disintegration
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